S Options History — May 2023

In May 2023, S traded between $15.50 and $21.27. ATM implied volatility averaged 69.4%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 20.3%. IV traded above realized volatility by 16.7% (HV 20d: 52.7%). Max pain ranged from $15.00 to $17.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.21.

Notable Days

  • 2023-05-15: Highest Volume — 34,637 contracts
  • 2023-05-10: Largest IV spike — 13.1% change
  • 2023-05-31: Highest IV Rank — 27.8%
  • 2023-05-31: Largest Expected Move — 24.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.33$15.50$21.27$16.41$21.27
Max Pain$15.95$15.00$17.00$17.00$16.00
ATM IV69.4%60.9%84.7%62.3%84.7%
Expected Move20.3%17.9%24.3%17.9%24.3%
HV 20d52.7%38.4%58.6%49.4%38.4%
HV 60d54.3%52.3%56.4%56.4%52.3%
IV Rank13.2%5.2%27.8%6.5%27.8%
IV Percentile23.2%6.3%73.0%9.5%73.0%
Term Structure-5.9%-18.5%8.1%8.1%-18.5%
VWIV71.7%64.6%85.9%64.6%85.9%
Skew 25d4.1%-1.0%7.2%5.0%3.5%
Skew 10d9.9%-2.3%16.0%9.3%7.2%
Call IV 25d70.5%61.4%86.2%61.4%86.1%
Put IV 25d74.6%66.4%89.6%66.4%89.6%
Bid-Ask Spread %35.5410.7764.8424.6348.04
Gamma HHI0.250.130.450.260.13
Net GEX2.3M1.1M4.7M1.3M2.2M
Net DEX-69.0M-117.9M-25.5M-35.6M-117.9M
Net VEX-352.4K-427.6K-280.0K-291.4K-427.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.210.011.340.100.13
Total Volume7,449.4551,06734,6378,8343,327
Total OI148,270.727125,143164,405133,469146,347

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$16.41$17.0062.3%17.9%49.4%6.5%64.6%5.0%8.1%1.3M-35.6M-291.4K0.1024.63N/AN/A8,000834102,82530,644
2023-05-02$15.73$17.0063.7%18.3%51.5%7.8%68.9%2.8%8.1%1.1M-26.2M-282.6K0.2730.64N/AN/A8,5912,331107,86531,176
2023-05-03$15.50$17.0066.5%19.0%50.9%10.4%73.4%2.1%6.1%1.1M-25.5M-280.0K0.2721.51N/AN/A4,5621,226114,42830,480
2023-05-04$15.79$15.0067.9%21.8%49.9%11.8%75.4%5.9%-5.4%1.3M-31.1M-296.2K0.0815.93N/AN/A10,415800118,09231,275
2023-05-05$16.95$15.0061.3%20.5%55.5%5.5%70.9%6.7%-4.6%1.8M-46.6M-323.2K0.0961.40N/AN/A3,469304116,67331,920
2023-05-08$17.49$15.0064.0%20.2%56.2%8.1%72.2%6.2%-4.3%2.2M-57.3M-329.8K0.1154.45N/AN/A6,070648118,01332,099
2023-05-09$17.26$15.0060.9%19.6%56.5%5.2%68.4%3.5%-2.7%2.3M-53.3M-315.7K1.3461.40N/AN/A3,4104,584121,41232,065
2023-05-10$17.96$16.0068.9%19.8%57.3%12.7%68.0%4.5%-4.9%2.9M-67.6M-347.0K0.1864.84N/AN/A3,389614123,82735,641
2023-05-11$18.14$16.0067.7%19.4%56.1%11.6%66.4%3.8%-4.0%3.2M-72.3M-351.3K0.4517.88N/AN/A1,836822125,24335,722
2023-05-12$17.59$16.0066.9%19.2%56.7%10.8%66.9%4.5%-4.9%2.8M-58.6M-331.3K0.3017.50N/AN/A1,774540126,64836,316
2023-05-15$18.23$16.0069.5%19.9%57.7%13.4%68.7%5.6%-6.9%3.5M-71.8M-339.2K0.0115.83N/AN/A34,163474127,44836,749
2023-05-16$18.20$16.0070.2%20.1%57.6%14.0%69.5%5.9%-7.5%3.0M-65.6M-350.3K0.3018.48N/AN/A925276121,35636,809
2023-05-17$18.41$16.0066.0%18.9%57.5%10.0%66.2%7.2%-4.4%3.2M-67.8M-345.4K0.0310.77N/AN/A13,158331121,29936,824
2023-05-18$19.13$16.0070.5%20.2%58.6%14.2%71.3%5.6%-5.8%4.7M-86.5M-349.6K0.0225.91N/AN/A21,231429116,89036,842
2023-05-19$18.81$16.0068.3%19.6%58.1%12.1%68.7%4.0%-7.1%3.3M-81.2M-364.2K0.1156.50N/AN/A3,999449127,41336,992
2023-05-22$19.19$16.0070.1%20.1%54.3%13.8%70.2%2.5%-9.2%1.5M-72.1M-369.2K0.0555.83N/AN/A7,04133193,09132,052
2023-05-23$19.19$16.0072.9%20.9%49.5%16.5%72.6%2.5%-12.6%1.7M-76.2M-391.4K0.1942.09N/AN/A1,363253102,63032,317
2023-05-24$19.84$16.0073.3%21.0%50.4%17.0%74.2%3.9%-9.3%1.8M-88.6M-406.5K0.2221.21N/AN/A873194103,56132,786
2023-05-25$20.26$16.0072.6%20.8%50.5%16.3%73.4%4.5%-9.8%1.9M-95.9M-414.2K0.1259.68N/AN/A1,422168104,12733,292
2023-05-26$20.73$16.0075.7%21.7%43.2%19.2%76.0%1.7%-13.8%1.9M-104.8M-423.1K0.1814.49N/AN/A2,834505105,32133,643
2023-05-30$21.26$16.0083.6%24.0%43.2%26.7%85.7%-1.0%-17.2%2.0M-116.0M-422.3K0.0942.77N/AN/A5,432491107,89433,909
2023-05-31$21.27$16.0084.7%24.3%38.4%27.8%85.9%3.5%-18.5%2.2M-117.9M-427.6K0.1348.04N/AN/A2,952375112,36533,982